(MENAFN) Economic growth in the Gulf Cooperation Council (GCC) region is expected to boost by 4.4 percent this year affected by its oil industry, according to Khaleej Times.
Saudi-based Alkhabeer Capital said in a report: "Large surpluses and stable debt ratios should help the GCC withstand a temporary decline in oil prices, effective diversification remains the only solution in the long term."
GCC governments plan mega projects in several sectors to highlight the non-oil private sector importance in supporting the economy.
The GCC countries have allocated money in their 2014 budget for mega projects in sectors such as education, healthcare and infrastructure.
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